{"id":64528,"date":"2022-05-22T09:00:53","date_gmt":"2022-05-22T09:00:53","guid":{"rendered":"https:\/\/www.cryptocabaret.com\/?p=64528"},"modified":"2022-05-22T09:00:53","modified_gmt":"2022-05-22T09:00:53","slug":"bill-gates-crypto-has-no-valuable-output-its-not-adding-to-society-like-other-investments","status":"publish","type":"post","link":"https:\/\/www.cryptocabaret.com\/?p=64528","title":{"rendered":"Bill Gates: Crypto Has No Valuable Output \u2014 It\u2019s Not Adding to Society Like Other Investments"},"content":{"rendered":"

\"Bill<\/p>\n

Microsoft co-founder Bill Gates has explained why he does not own any bitcoin or other cryptocurrencies. \u201cI like investing in things that have valuable output,\u201d Gates said, adding that crypto is \u201cnot adding to society like other investments.\u201d
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<\/strong>\n<\/p>\n

Bill Gates on Crypto, and Why He Isn\u2019t Investing<\/h2>\n

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\nMicrosoft co-founder Bill Gates shared his opinion about bitcoin and cryptocurrencies in a Reddit AMA (Ask Me Anything) session Thursday.<\/p>\n

One of the questions he was asked was \u201cWhat do you think about bitcoin and cryptocurrencies?\u201d Gates replied:\n<\/p>\n

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I don\u2019t own any. I like investing in things that have valuable output.<\/p>\n<\/blockquote>\n

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\nHe added: \u201cThe value of companies is based on how they make great products. The value of crypto is just what some other person decides someone else will pay for it so not adding to society like other investments.\u201d<\/p>\n

Gates\u2019 stance on cryptocurrency echoes that of Berkshire Hathaway Warren Buffett. The Oracle of Omaha explained in detail why he would not invest in bitcoin or cryptocurrency earlier this month.<\/p>\n

\u201cIt doesn\u2019t produce anything,\u201d Buffett described<\/a> BTC<\/a>, noting that he wouldn\u2019t pay $25 for all of the bitcoin in the world. \u201cWhat would I do with it? I\u2019d have to sell it back to you one way or another. It isn\u2019t going to do anything,\u201d he opined.<\/p>\n

The Microsoft co-founder and co-chair of the Bill and Melinda Gates Foundation has long been a critic of bitcoin and cryptocurrency.<\/p>\n

In February last year, he said he didn\u2019t own bitcoin, adding that he has taken \u201ca neutral view.\u201d However, he also said <\/a>crypto was one tech innovation the world would be better off without. Gates noted: \u201cThe way cryptocurrency works today allows for certain criminal activities. It\u2019d be good to get rid of that.\u201d<\/p>\n

Gates also commented on Tesla CEO Elon Musk owning bitcoin in February last year. \u201cElon has tons of money, and he\u2019s very sophisticated, so I don\u2019t worry that his bitcoin will randomly go up or down,\u201d Microsoft co-founder said. \u201cIf you have less money than Elon, you should probably watch out,\u201d he warned.<\/p>\n

What do you think about Bill Gates\u2019 comments about bitcoin and cryptocurrency? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Powered by WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

Microsoft co-founder Bill Gates has explained why he does not own any bitcoin or other cryptocurrencies. \u201cI like investing in things that have valuable output,\u201d Gates said, adding that crypto is \u201cnot adding to society like other investments.\u201d Bill Gates on Crypto, and Why He Isn\u2019t Investing Microsoft co-founder Bill Gates shared his opinion about […]<\/p>\n","protected":false},"author":2,"featured_media":64529,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[309],"tags":[],"class_list":["post-64528","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/64528","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=64528"}],"version-history":[{"count":0,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/64528\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/media\/64529"}],"wp:attachment":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=64528"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=64528"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=64528"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}